{"id":21757,"date":"2024-06-01T12:30:52","date_gmt":"2024-06-01T09:30:52","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21757"},"modified":"2024-06-01T12:18:22","modified_gmt":"2024-06-01T09:18:22","slug":"ark-invest-and-21shares-update-etf-strategy","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ark-invest-and-21shares-update-etf-strategy\/","title":{"rendered":"ARK Invest and 21Shares Update ETF Strategy"},"content":{"rendered":"<p>Rebranding the fund from <strong>Ark 21Shares<\/strong> Ethereum ETF to 21Shares Core Ethereum ETF, 21Shares has amended its application for their <a href=\"https:\/\/www.binance.com\/en\/square\/post\/2024-05-31-sec-calls-for-amended-s-1-form-from-potential-spot-ethereum-etf-issuers-8835566224682\">Ethereum spot ETF S-1<\/a>. <strong>ARK Invest<\/strong> will also be no longer affiliated with the ETF after breaking its agreement with 21Shares.<\/p>\n<p>The most recently changed Form S-1 claims there are no revised fees. A spokesman from <strong>ARK Invest<\/strong> said that the company has opted not to proceed with an Ether ETF at this time, citing a need to review its investment approach even if Ethereum&#8217;s innovative potential and long-term worth are acknowledged.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ark-invest-and-21shares-update-etf-strategy\/#Continued_Collaboration_on_Other_Projects\" title=\"Continued Collaboration on Other Projects\">Continued Collaboration on Other Projects<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ark-invest-and-21shares-update-etf-strategy\/#Changes_to_Spot_Ether_ETF_Proposal\" title=\"Changes to Spot Ether ETF Proposal\">Changes to Spot Ether ETF Proposal<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Continued_Collaboration_on_Other_Projects\"><\/span>Continued Collaboration on Other Projects<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This choice, however, has no bearing on the continuous cooperation between <strong>21Shares and ARK Invest<\/strong> on other initiatives like the January-launched <strong>ARK 21Shares Bitcoin ETF.<\/strong><\/p>\n<p>21Shares sponsored the ETF in their joint arrangement; Delaware Trust Company served as the trustee. While <strong>ARK Investment Management<\/strong> was a sub-adviser in charge of selling the shares to investors, Coinbase Custody Trust Company safely retained the underlying Ether assets.<\/p>\n<p><span style=\"color: #0000ff;\"><em>Related: <a style=\"color: #0000ff;\" href=\"https:\/\/coinengineer.net\/blog\/ark-invest-and-21shares-revamp-ethereum-etf-for-approval\/\">ARK Invest and 21Shares Revamp Ethereum ETF for Approval<\/a><\/em><\/span><\/p>\n<p>Apart from Bitcoin and Ethereum futures, the pair debuted another product called the <strong>ARK 21Shares<\/strong> Blockchain and Digital Economy Innovation ETF. This ETF is made to invest in the public stocks of firms in the blockchain industry.<\/p>\n<p>This gives investors what 21 Shares says is a &#8220;holistic exposure&#8221; to the expansion of blockchain technology.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Changes_to_Spot_Ether_ETF_Proposal\"><\/span>Changes to Spot Ether ETF Proposal<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Friday, May 10, <strong>ARK Invest and 21Shares<\/strong> changed their spot Ether exchange-traded fund proposal. They shelved intentions to allocate some fund assets to third-party vendors.<\/p>\n<p>The firms had included in their Feb. 7 filing a language noting that 21Shares expected receiving ETH as a reward for staking and intended to count the associated earnings as income earned by the fund.<\/p>\n<p><strong>ARK Invest and 21Shares<\/strong> applied for a seat in the in the Ether ETF in September 2023. Using the CME CF Ether-Dollar Reference Rate\u2014New York Variant, the fund seeks to give Ether direct exposure and trade on the Cboe BZX Exchange.<\/p>\n<p>The U.S. Securities and Exchange Commission accepted 19b-4 forms for eight Ethereum ETFs last Monday. Before trading starts, issuers still need their S-1 statements to become effective.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF, 21Shares has amended its application for their Ethereum spot ETF S-1. ARK Invest will also be no longer affiliated with the ETF after breaking its agreement with 21Shares. The most recently changed Form S-1 claims there are no revised fees. A spokesman<\/p>\n","protected":false},"author":6,"featured_media":21758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3178,1877,6563],"class_list":["post-21757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-21shares","tag-ark-invest","tag-eth-approval"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ARK Invest and 21Shares Update ETF Strategy - Coin Engineer<\/title>\n<meta name=\"description\" content=\"21Shares rebrands Ethereum ETF as ARK Invest exits. New Form S-1 filed with no fee changes. 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